Price elasticity of demand

Price elasticity of demand - how demand responds to a change in price.

[DotaHelm]

Amazing video. Very concise and detailed at the same time. Loved it.

[friedac]

I finally understood the concept, thank you so much!!

[nitiwat_a]

If the price of coffee beans goes up to $1.20 which is +20% and demand drops down by 18% to 410 kg, the PED is still inelastic. But the revenue will become $492 which is less than the previous one ($500). Doesn't it make the conclusion that "when PED is inelastic, revenue increases when price increases" wrong? If not please teach me how come that happen, I'm confused at that point, thank you

[angiedevoreCAT]

talks about coffee beans, but not even that is enough to keep me

[angiedevoreCAT]

very professionally boring!! I would rather watch a documentary!

[justapekinduck]

HOW DOES THIS APPLY TO PEKIN DUCK ECONOMICS

[AkilHimayathJahn]

Mr. B's econ classs brought me here